LocalMonero said it is closing down after seven years of running the platform due to “internal and external factors.”
LocalMonero, a peer-to-peer crypto exchange for the Monero cryptocurrency, announced on Tuesday that it is winding down the platform after nearly seven years of operation due to “internal and external factors.” The platform did not provide specific reasons for the closure.
Trading on the platform will be unavailable from May 14, while the website will be discontinued in November. LocalMonero wrote in the statement that it expects the Monero ecosystem to continue expanding despite its own wind-down. “We’re confident that Monero’s future is bright, with or without our platform,” it said, highlighting upcoming launches of new Monero-focused DEXs and further privacy updates such as full-chain membership proofs as positive developments.
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